Wall Street Zen Upgrades Columbus McKinnon (NASDAQ:CMCO) to “Strong-Buy”

Columbus McKinnon (NASDAQ:CMCO) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Columbus McKinnon in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $35.00.

Columbus McKinnon Trading Up 0.4%

Shares of CMCO opened at $17.15 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. The company has a market cap of $492.72 million, a P/E ratio of 122.51 and a beta of 1.30. Columbus McKinnon has a twelve month low of $11.78 and a twelve month high of $41.05. The company’s fifty day simple moving average is $15.46 and its 200-day simple moving average is $15.27.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Tuesday, February 8th. The industrial products company reported $0.36 EPS for the quarter. Columbus McKinnon had a net margin of 0.41% and a return on equity of 7.33%. The business had revenue of $166.55 million during the quarter. As a group, analysts expect that Columbus McKinnon will post 2.69 EPS for the current year.

Institutional Trading of Columbus McKinnon

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB lifted its position in Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 1,000 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Columbus McKinnon by 61.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 194,970 shares of the industrial products company’s stock worth $2,796,000 after purchasing an additional 74,482 shares during the period. Van Den Berg Management I Inc. boosted its stake in Columbus McKinnon by 33.9% during the 3rd quarter. Van Den Berg Management I Inc. now owns 324,803 shares of the industrial products company’s stock valued at $4,658,000 after purchasing an additional 82,229 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Columbus McKinnon by 28.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 305,269 shares of the industrial products company’s stock valued at $4,378,000 after purchasing an additional 68,110 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Columbus McKinnon by 42.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,921 shares of the industrial products company’s stock worth $171,000 after buying an additional 3,581 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.